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Residency Through Investment in Greece
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Nestled at the crossroads of Europe, Asia, and Africa, Greece offers more than just sun-soaked islands and classical heritage. Its strategic position within the European Union, investor-friendly tax framework, and high quality of life have increasingly drawn attention from international investors seeking both lifestyle and opportunity.
- Main Industries in the Greece:
- Tourism and Hospitality
- Shipping and Maritime Transport
- Food and Beverage Processing
- Textiles and Apparel Manufacturing
- Petroleum and Chemical Products
- Construction and Real Estate
(UTC+2)
131,957 km2
Euro
Athens
Greek
Overview of Greece’s Investment-Based Immigration
Investment migration refers to the process of acquiring residency rights through financial contributions to a host country’s economy. In Greece, this framework is primarily structured around encouraging foreign capital while offering investors and their families the ability to live within the European Union.
The cornerstone of Greece’s investor immigration system is the Golden Visa Program, originally launched in 2013 and significantly revised between 2023 and 2025. Designed to attract high-net-worth individuals, the program grants residency to non-EU nationals who meet specific investment thresholds—most commonly through real estate—while offering streamlined residency benefits and visa-free access across the Schengen Zone.
Golden Visa Program: Key Features (2025 Updates)
Greece’s Golden Visa Program remains a prominent pathway for non-EU investors seeking residency within the European Union. As of 2025, the program has undergone notable updates to its investment thresholds and eligibility criteria, reflecting the country’s evolving economic landscape and regional development goals.
Minimum Investment Thresholds:
- €250,000: Applicable for investments in specific real estate projects, such as the restoration of listed buildings or the conversion of commercial properties into residential use, regardless of location.
- €400,000: Required for purchasing a single property of at least 120 square meters in less densely populated areas.
- €800,000: Set for acquisitions in high-demand regions, including Athens, Thessaloniki, Mykonos, and Santorini, where the property must also meet a minimum size requirement of 120 square meters.
Residency Benefits:
- Five-Year Renewable Residency: Investors receive a residence permit valid for five years, which can be renewed provided the investment is maintained.
- No Physical Stay Requirement: There is no obligation for investors to reside in Greece to retain their residency status.
- Family Inclusion: The program extends to immediate family members, including spouses, children under 24, and dependent parents.
- No Language or Integration Tests: Applicants are not required to demonstrate proficiency in the Greek language or pass integration assessments.
Investment Options Explained
Investment Options Explained
Greece’s Golden Visa Program offers a variety of investment avenues tailored to diverse investor profiles. While real estate remains the most popular choice, alternative options are available to accommodate different financial strategies and preferences.
Real Estate Acquisition
Investing in property is the cornerstone of the Golden Visa scheme. As of 2025, the minimum investment thresholds are:
- €250,000: For properties undergoing restoration or conversion from commercial to residential use, regardless of location.
- €400,000: For a single property of at least 120 square meters in less densely populated areas.
- €800,000: For properties located in high-demand regions such as Athens, Thessaloniki, Mykonos, and Santorini, also requiring a minimum size of 120 square meters.
These investments grant a five-year renewable residency permit, with no obligation to reside in Greece.
Long-Term Lease Agreements
An alternative to purchasing property is entering into a lease agreement:
€400,000: For a 10-year lease of hotel accommodations or furnished tourist residences.
This option provides similar residency benefits without the need for property ownership.
Government Bonds and Bank Deposits
For those preferring financial instruments:
- €500,000: Investment in Greek government bonds with a minimum three-year maturity.
- €500,000: Fixed-term deposit in a Greek bank, maintained for at least one year with automatic renewal.
Capital Contributions
Investors may choose to contribute capital to Greek enterprises:
€500,000: Minimum investment in Greek companies (excluding portfolio and real estate firms), real estate investment companies, or mutual funds focused solely on Greek businesses.
This route supports the local economy and offers diversification beyond real estate.
These options provide a more passive investment approach while still qualifying for residency.
Step-by-Step Application Process
Navigating the Greek Golden Visa program requires a methodical approach to ensure compliance with all legal and administrative requirements. Below is a comprehensive guide outlining each stage of the application process, reflecting the latest updates as of 2025.
1. Select an Investment Pathway and Conduct Thorough Research
Begin by identifying the most suitable investment route that aligns with your financial goals—be it real estate acquisition, strategic capital contribution, or alternative qualifying assets. It is crucial to carry out comprehensive due diligence on the market and legal implications to make an informed decision.
2. Engage a Local Legal Advisor or Immigration Consultant (Highly Advised)
While not mandatory, enlisting the services of an experienced local attorney or a certified immigration advisor is strongly recommended. These professionals offer invaluable guidance, facilitate documentation, and ensure adherence to national regulations, significantly reducing the risk of procedural delays or errors.
3. Establish a Greek Bank Account and Obtain a Tax Identification Number (AFM)
Applicants are required to open a local bank account in Greece to process transactions related to the investment. Simultaneously, securing a Greek tax identification number (commonly referred to as AFM) is essential for both fiscal and legal purposes.
4. Execute the Investment Transaction
Upon meeting the preparatory requirements, proceed with the investment—whether it’s purchasing eligible property, making a capital transfer, or another approved contribution. Ensure all contractual agreements are finalized in accordance with Greek legislation.
5. Submit Biometric Data and Complete the Application File
Once the investment is completed, gather and submit all necessary documentation, including identification, proof of investment, and health insurance coverage. You will also be required to present biometric data as part of the residency application process.
6. Obtain the Initial Residency Permit (Valid for Five Years)
Following the successful submission and verification of documents, the initial residence permit is issued. This permit is typically valid for five years and is renewable, provided the investment remains in place and all residency conditions are continuously met.
Advantages of the Golden Visa Program
The Greek Golden Visa scheme offers a range of compelling benefits that make it an attractive choice for international investors seeking both lifestyle and strategic advantages. As of 2025, the program remains one of the most accessible and rewarding residency pathways within the European Union.
- Freedom of Movement Across the Schengen Area: Holders of the Golden Visa enjoy the privilege of visa-free travel throughout the Schengen Zone, allowing unrestricted access to 27 European countries for leisure, business, or short-term stays.
- No Residency Requirement to Maintain Status: Unlike many comparable programs, Greece imposes no minimum stay obligation. Investors are not required to reside in the country to retain their residency rights, offering maximum flexibility for globally mobile individuals.
- Full Control Over the Investment Property: Golden Visa recipients are entitled to lease or sell their real estate investment at their discretion. This enables owners to generate rental income or adjust their portfolio based on market conditions and personal circumstances.
- Pathway to Permanent Residency and Citizenship: After a continuous period of seven years, and subject to fulfilling certain residency and integration criteria, applicants may become eligible to apply for long-term residency or even Greek citizenship. This provides a route to acquiring full EU citizenship rights, including the ability to live and work across the European Union.
Key Considerations and Potential Drawbacks
While the Golden Visa offers a streamlined avenue to European residency, prospective applicants should consider several practical and regulatory factors before committing:
- No Immediate Employment Entitlement: The initial permit does not confer the automatic right to undertake paid work in Greece. Should you wish to engage in professional activities locally, you may need to apply for a separate work visa or convert your status to a different permit category, subject to prevailing immigration policies.
- Ongoing Property-Related Expenses: Beyond the upfront investment, property owners are responsible for annual taxes, insurance premiums and routine maintenance. These recurring charges can vary significantly depending on location, property size and local tax reforms enacted in 2025.
- Evolving Regulatory Landscape: In response to mounting housing demand in urban centers such as Athens and Thessaloniki, authorities have introduced stricter zoning and minimum-investment thresholds in select districts. It is essential to monitor these adjustments to ensure your chosen asset remains eligible under the Golden Visa criteria.
- Renewal Tied to Sustained Investment: Extension of your five-year permit hinges on the continued validity of your qualifying investment. Should you divest or if the asset’s value falls below the mandated threshold, you risk jeopardizing your residency status.
By carefully weighing these elements alongside the program’s benefits, you can chart a more informed and sustainable path toward your goals in Greece.
Recent Developments and 2025 Updates
Recent Developments and 2025 Updates
The Greek Golden Visa program has undergone several noteworthy revisions in 2025, aimed at balancing investor interest with the country’s evolving socio-economic priorities. These modifications reflect both a tightening of regulatory oversight and an effort to modernize administrative processes.
Increased Minimum Investment in High-Demand Zones
To address housing affordability concerns in key urban centers and popular tourist destinations, the government has raised the minimum investment threshold in designated areas. Cities like Athens, Thessaloniki, and parts of the Aegean islands now require higher capital commitments, ensuring more sustainable real estate development and protecting local communities from over-commercialization.
Enhanced Vetting of Capital-Based Contributions
Authorities have introduced more rigorous due diligence procedures for applicants opting for fund-based or financial instruments. This includes closer examination of the source of funds, as well as stricter compliance standards for investment vehicles, ensuring transparency and alignment with EU anti-money laundering directives.
Digitalization of the Application Procedure
In a bid to improve efficiency and reduce processing times, the Ministry of Migration and Asylum has launched a fully integrated online portal. Through this platform, applicants can submit documentation, track the progress of their application, and communicate directly with immigration officials—streamlining the overall experience and minimizing bureaucratic delays.
These changes underscore Greece’s commitment to maintaining the integrity of its residency-by-investment program while adapting to current market conditions and technological advancements.
Conclusion
In conclusion, the Greek Golden Visa program continues to offer significant opportunities for investors seeking residency within the European Union, with the added benefit of visa-free travel across the Schengen Area. While recent updates in 2025 have introduced higher investment thresholds and stricter oversight, these changes reflect the country’s efforts to maintain a balanced and sustainable program. By staying informed and prepared, applicants can navigate these adjustments and make the most of the benefits that the Golden Visa provides.
FAQ about Residency Through Investment in Greece
1. Can I work in Greece with a Golden Visa?
No, the Golden Visa does not grant an automatic right to work in Greece. To work, you would need to apply for a separate work permit or change your status to a different residency category.
2. How long is the Greek Golden Visa valid?
The Golden Visa is initially valid for five years. It can be renewed as long as the qualifying investment is maintained.
3. Are there any changes in the investment requirements for 2025?
Yes, in high-demand areas like Athens and Thessaloniki, the minimum investment threshold has been increased to address housing pressures and ensure sustainable development.
4. How can I track the progress of my Golden Visa application?
The application process has been streamlined through a digital platform provided by the Ministry of Migration and Asylum, allowing you to submit documents and track the status of your application online.
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